Property briefs

The Real Estate Capital Partners USA Property Trust has pushed back plans to acquire the US portfolio of Record Realty and the mezzanine note that funded the properties. The deal and a related capital raising, which included an underwritten rights issue and a placement to a US-based investor, were postponed by that investor’s concerns about potential tax issues. A new deal is being drawn up. Ben Wilmot

A subsidiary of
APN European Retail Property Group
, which owns a shopping mall in Romania, has gone into administration after defaulting on its debt. APN said the collapse would have “no ongoing financial impact" on the Australian-listed fund manager, except for the cost of a corporate guarantee, estimated to be less than €1 million ($1.42 million). The property in Bucharest was valued at €35.4 million, while the loan facility was €40.1 million. Nick Lenaghan

Bovis Lend Lease has taken the gong as overall winner of the GIO Workers Compensation Award for Excellence in Occupational Health & Safety at the 2010 National Safety Council of Australia and GIO Workers Compensation safety awards. The firm’s system of safety rules called “Global Minimum Requirements" and “Australian Means & Methods" helped it take the honours. Nick Lenaghan

ASX-listed
Brickworks
has exchanged contracts for the sale of two lots at the M7 Hub industrial estate at Eastern Creek in Sydney. The Brickworks/ Goodman Group joint venture sold the site for $22.1 million. Settlement is due next January subject to subdivision, development and FIRB approval. A second lot sold for just over $2 million. Lisa Carapiet

Indonesian property developer PT Lippo Karawaci is seeking to raise 2.38 trillion rupiah ($266 million) through a rights offer on December 1, the company said.Bloomberg